While I fantasize about quitting my 9-5 nearly every day to work for myself, I know that my business is not ready; I still need the income from my full-time job to invest in building a strong and sustainable foundation for my future of self-employment.

I'll begin where the majority of successful entrepreneurs begin--"follow your passion." It may be a shopworn phrase, but this advice is as valid today for how to succeed in business as it was a hundred years ago, and it has certainly proven true for me.

Entrepreneurs often struggle when their companies face big issues. Whether to continue in business is certainly one of the biggest and most difficult choices. But if you approach these questions with logical analysis, you will make the best decisions.

Some company killers are obvious. Competition. Obsolescence. Too much debt. They're sexy problems. They make the headlines and you're already aware of them. But there are hidden threats that you don't even know exist.

On New Year's Eve, the much-admired Rubaiyat restaurant in scenic Marquette, Michigan held its last supper. Why did the lights go out January 1st, leaving hundreds of devoted but disappointed customers? It was another case of first-time entrepreneurs going too far too fast.